Key Highlights
- Here is a list of major companies across the world that have announced layoffs in 2026 — Mark Zuckerberg's Meta is planning to cut 10% of its workforce in the company's Reality Labs sector as it plans to restructure to put more money into AI, Bloomberg reported.
- As per the report quoting a person familiar with the development, the Meta job cuts are expected later this week as the company wants to shift money away from some virtual reality products and into other AI wearables.
- Last year, Mark Zuckerberg had asked company executives to look for budget reductions within the Reality Labs.
- Banking major Citigroup is about to lay off around 1,000 employees this week as CEO Jane Fraser seeks to control costs and improve returns at the company.
- The Wall Street bank had around 227,000 employees at the end of September as per data shared by it.
